Boomers already faced significant retirement challenges before getting clobbered by the recent stock market volatility. The possibility of another recession and the political gridlock over the federal debt only add to the uncertainty. More than ever, you will need to make every dollar count when it comes to planning for retirement — once you are in your 50s or 60s, there isn’t much margin for error.
Here five common retirement planning mistakes and a few tips for avoiding them. Be forewared: There aren’t easy answers. It will take time to navigate an effective course of action. The end result, however, will be peace of mind that you’re doing everything possible in a tough environment.